##  [# Planned ETF To Target Pet Industry](/sections/daily-etf-watch/planned-etf-target-pet-industry) 

 

# Planned ETF To Target Pet Industry

 

 

ProShares will offer a fund with huge appeal to animal lovers.



 

 

 

 

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[By ETF.com Staff](/contributors/etfcom-staff)

 May 22, 2018

 Edited by: ETF.com Staff

 

 

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ProShares has filed for an ETF that will allow investors to specifically target the products and services that are part of the $70 billion pet industry. The [ProShares Pet Care ETF](https://www.sec.gov/Archives/edgar/data/1174610/000119312518166625/d571371d485apos.htm) will track an equal-weighted index provided by FactSet.

The underlying benchmark will consist of domestic and foreign companies that generate at least half of their revenues from businesses related to pet-care-related or veterinary-related products and services.

These businesses can include the manufacture of pet food and supplies; stores selling those products; pharmaceuticals and diagnostics associated with veterinary care; and the provision of veterinary products and services. The index’s methodology includes minimum thresholds for size and liquidity, according to the prospectus.

**Methodology Workaround**

The index must have at least 21 components. However, the methodology includes a workaround if there are not enough eligible companies under which companies with at least $1 billion in annual revenue from pet-care-related businesses are selected based on how much those businesses represent of their total revenue. The index selects the top firms from the ranked list until the 21-component minimum is met, according to the document that notes that, as of the end of April, the index included 22 components.

The index is equally weighted and rebalances on a monthly basis, the prospectus says. It does not include an expense ratio, ticker or listing exchange.

An exchange-traded managed fund (ETMF) from Gabelli NextShares is currently in registration and will be brought to market on the Nasdaq. ETMFs are similar to ETFs but are actively managed in a nontransparent manner and considered to be ETFs by the SEC. The [Gabelli Pet Parent Fund – Companion Pets, Their Parents, and The Ecosystems](https://www.sec.gov/Archives/edgar/data/1637520/000113322818001865/e490357_485apos.htm) will have a very similar focus to the proposed ProShares fund.

*Contact Heather Bell at <hbell@etf.com>*



 

 

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